Companies / Venezuela
Oil Prices Not All Bad For Auto Industry
March 2006 | Industry NewsA rise in global oil prices is not always a constraint on the automotive industry as Venezuela is proving. The world's fifth-largest oil exporter is naturally benefiting from the price hike and as such, its new vehicle sales are on the rise. In February 2006, sales for the month were 41% higher than February 2005, with 21,222 units sold, compared with 15,080 units in the previous year. The total was also a 4% improvement on January
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